#3 Doing It All Wrong – Investing Fees are Ruining my Strategy

As of right now, I can’t use the Dollar Cost Average strategy I want to.

I wanted to diversify my portfolio even more, instead of only buying from one company at a time.

But my fees in my bank is ruining it for me right now. And I can’t invest in American stocks.

I wanted to buy Disney shares, and I was about to snap up some shares at an all time low. But buying, just 3 shares would have cost me around $25 in fees in my bank.

I am waiting to get my account in the cheapest (and some say, the best) bank to invest in, for Danish people. Saxo bank.

So..

I screwed up the Dollar Cost Averaging strategy, and instead of investing “the same amount” consistently over a year, I bought shares worth just shy of $4,000.

The right way to do it – in my mind – is to even out your purchases, so much so that you are investing the same amount each month or week.

And at the same time, you should be holding a diversified stock portfolio, but I can’t really do that while investing via my bank account.

Because if I do that blindly, all my gains are going to get eaten by all the fees in the account.

After this post i am now approximately 49.000 DKK invested, which means i put in about $7300 – the value is at $6300 but if you take a look at my video, if the levels off 2019 returns, I am going to make more than 100% gains from my investments.

I hope you stay safe out there.

Simon

I am on a journey to personal wealth. Follow my journey on this blog or on YouTube. Be aware, I am not giving you investment advice.

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